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Libertex Review 2020 – Platform, Fees, Safety, Pros and Cons

Tom Chen

Author: Tom Chen

The forex industry is known to have some notable scammers, though in recent years regulators are making an effort to ensure the safety of traders and investors. While some brokers succeed to maintain a positive reputation, others struggle to gain the public’s trust.

To help you in selecting the most reliable broker in the market, we’ve conducted an in-depth review of Libertex and we have found it to be an excellent broker. Read on to find out why you should consider using Libertex.

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On this Page:

    Libertex: Established Broker with Zero Spreads

    Our Rating

    Trading
    • Zero spreads and low commission
    • Established and trusted broker
    • Excellent education resources
    • Low minimum deposit
    Trading
    83% of retail investor accounts lose money when trading CFDs with this provider.

    What is Libertex?

    Established in 1997, Libertex is an online Forex and CFD broker regulated by CySEC and FSC. The online broker is a multinational brand which was one of the first retail forex brokers in the online brokerage industry and claims to have 2.2M clients worldwide and a staff of 700 employees.

    The online broker provides CFD trading services in multiple markets and products including forex, stocks, cryptocurrencies, commodities, ETFs, and indices.

    Libertex is part of the Forex Club Group, which is based in Limassol, Cyprus.

    Pros and Cons

    Pros:

    ✅Libertex provides a user-friendly in-house trading platform

    ✅Low minimum deposit requirement of 10 EUR

    ✅The broker offers zero spreads

    ✅Regulated by CySEC and FSC

    ✅Offers the MT4, including an automated trading

    Cons:

    ❌ Offers only one account type

    Tradable Securities

    Librtex offers a strong selection of around 200 financial products categorized into markets and sub-markets:

    • Forex – Major, minor, crosses, exotics  
    • Stocks (shares) – Medical cannabis, automobile industries, consumer good, consumer services, healthcare, finance, energy, industrials, luxury, telecommunications, technologies, materials, and potential trading assets.
    • Metals – Gold, silver, palladium, platinum, and copper.

    • Indices – 15 global indices from different regions across the globe: North America, Europe, Asia, the Middle East, and South America. 
    • Cryptocurrencies – A selection of 40 crypt coins pairs including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
    • Agriculture – Corn, wheat, soybean, coffee, sugar, and cocoa.
    • Oil and gas – Brent crude oil, light sweet crude oil, natural gas, WTI crude oil, and heating oil.
    • Exchange-Traded Funds (ETFs) – A selection of 10 ETFs.

    Special Features

    Libertex is a well known forex broker that has been in operation since 1997 and offers some useful trading features. These include:

    • Automated Trading

    Libertex provides traders and investors to trade through the in-house trading platform and the popular MetaTrader4 that allows you to automate your trading strategies based on technical indicators. The automated trading is one of the best features of MetaTrader 4 allowing you to program your trading orders through the Expert Advisors (EA) and technical indicators.

    • Zero Spreads

    The commission structure of Libertex is unusual – Zero spreads and additional trading commission like the transaction fee, which is taken once the trade has been opened. Yet, trading with zero spreads can be a great advantage for some traders.

    Promotions

    The broker offers a 100% welcome bonus for users that subscribe to the Libertex financial platform. You can find all the necessary details in this page.

    Minimum Deposit Requirement

    Libertex maintains a general minimum deposit requirement of 10 EUR if you choose to fund your account with a credit card or your Skrill e-wallet. The maximum deposit allowed by Libertex is $5000. 

    This is a big plus as it means first-time traders with lower budgets can still join Libertex. Most other brokers have much higher minimum deposits.

    The deposit requirement for the Professional account is over €500,000.

    Supported Countries

    Libertex states on their website to serve 2.2 million clients from more than 110 countries. We recommend our readers to check Libertex legal authorization in your area before you open a trading account.

    Bear in mind that the broker does not accept clients from the following countries: United States, European Union, Japan, Afghanistan, Azerbaijan, Bosnia and Herzegovina, Brazil, Guyana, Iraq, Lao PDR, Yemen, Vanuatu, Uganda, Quebec of Canada, Syria, Ethiopia, Sri Lanka, Trinidad and Tobago, Tunisia, Iran, and North Korea.

    Languages Supported

    Libertex’s website is available in the following languages: English, Spanish, Malay, Portuguese, Russian, Thai, and Chinese (simplifies and traditional). The Libertex in-house trading platform is available in English, Spanish,  German, Indonesian, Malay, Portuguese, Russian, Thai, and Chinese (simplifies and traditional).

    Trading Platforms

    Libertex offers a selection of two trading platforms: The in-house Libertex web-based platform, the mobile application platform, and the popular Meta Trader 4.

    Libertex In-House Trading Platform

    Libertex provides easy access to the in-house web-based trading platform that requires one click on the Log-in’ button and a simple registration process. The platform is easy to use and is ideal for both beginners and more experienced traders.

    Libertex Review – Platform,...

    The news section can be beneficial as well as the instruments menu that includes the top rising and top falling instruments on the day.

    The Libertex in-house trading platform is also available as a mobile application on the App Store and Google Play. The mobile application is easy-to-use, however, note that the broker method of execution of orders is based on the market maker model, which has a slightly more expensive cost structure.

    Meta Trader 4

    In addition to the in-house trading platform, Libertex offers the popular MetaTrader4. Though the platform was launched in 2005, it remains one of the most popular forex and CFD trading platforms with 100 effective trading tools, over 80 technical analysis indicators, and the ability to automate your trading.

    Libertex Review – Platform,...

    Fees, Commissions and Spreads

    Libertex is one of the cheapest brokers available in 2020. Unlike practically every other broker in the space, Liberetx offers zero spread for both retail clients and professional clients.

    Here are the fees charged by this CFD broker:

    • Transaction fee – Taken once the trade has been opened.
    • Withdrawal fee – The broker charges a withdrawal fee which varies based on your withdrawal method.
    • Inactivity fee – Libertex charges a fee for inactive accounts for 180 days with a balance of less than $10,000.
    • Rollover/overnight fees – Rollover fee is taken at the end of a trading day at 9 pm GMT as an interest, which may be either positive or negative. Take note that for CFD instruments, the rollover will be triple when rolling over a position from Friday to Monday.

    Libertex Payments and Withdrawals

    Libertex minimum deposit requirement for a real live trading account is 10 EUR. The minimum withdrawal amount is the same as the deposit amount of 10 EUR and the maximum withdrawal amount is 10,000 EUR through a bank card (Visa only). Take note that the broker charges a withdrawal fee for most withdrawal methods. 

    Listed below are the withdrawal options of Libertex:

    Withdrawal methodCurrency available for a transferCommissionTransfer timeMinimum amount
    Maximum amount
    Bank transfer**EUR0.5% min 2 EUR, max 10 EURFrom 2 to 5 working daysnono
    SkrillEURnoinstantly*10 EUR2 500 EUR
    Bank card (Visa only)EUR1 EUR3-5 working days10 EUR10 000 EUR
    NetellerEUR1%instantly*10 EUR2 500 EUR

    Libertex offers the following payment methods:

    Deposits

    • Credit/debit card
    • Skrill eWallet
    • Sofort
    • SEPA/International bank wire
    • Neteller
    • Giropay
    • Trustly
    • iDeal
    • Multibanco
    • Rapid Transfer

    Withdrawals

    • Credit/debit card
    • Skrill eWallet
    • SEPA/International bank wire
    • Neteller

    How to withdraw funds

    Follow these steps to withdraw your funds from Libertex

    1. Log in to Liberetx web platform or the mobile application
    2. In the web trading platform, go to Withdraw section. On the mobile platform, select Wallet > Withdraw Funds
    3. Enter the amount you wish to withdraw

    Note that Libertex charges a withdrawal fee for withdrawals via bank transfer, bank card, and Neteller.

    Account Types

    Libertex only has one account type. There is, however, a possibility to have a professional account, which grants you access to higher leverage of 1:600. Rather, the broker offers a real live trading account, professional trading account, and a demo account. The requirements for a trader to open a professional account are:

    • Sufficient trading activity in the last 12 months
    • Relevant experience in the financial services sector
    • Financial instrument portfolio of over €500,0001 (including cash savings and financial instruments)

    How to Sign Up on Libertex

    Libertex sign up is straightforward and can be done in a short time. First, check if you are eligible to open an account with Libertex.

    To create a new online trading account, follow the next steps:

    1. First, go to Liberetx’s website and click the Login on the top right side of the home page.
    2. Now, click on the sign-up button on the registration window.
    3. Choose your country and fill in your email address and password.Libertex Review – Platform,...
    4. Fund your account through one of the deposit methods offered by Libertex.

    How to Configure Your Trading Account

    Once you are done with the signup process, it’s time to set up the trading platform based on your preferences. As we mentioned before, the platform is not customizable so you don’t have a lot of features to add on. First, we recommend changing the default chart template. Note that you cannot add technical analysis indicators unless you click the ‘full screen’ button. Change the chart style to candlestick to get a better visual of the chart.

    Libertex Review – Platform,...

    In order to open a position, you need to hover on a specific instrument on the watch list window and click the ‘open trade position’ button. Choose the amount and the leverage ratio (multiplier) and click buy/sell.

    Libertex Review – Platform,...

    Regulation and Safety of Funds

    LIBERTEX is a trading platform used by Indication Investments Ltd. a Cyprus Investment Firm which is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 164/12.

    Risk Warning: Trading leveraged products such as CFDs involves substantial risk of loss and may not be suitable for all investors. 83% of retail investor accounts lose money when trading CFDs with this provider. Trading such products is risky and you may lose all of your invested capital.

    Education, Research and Data

    If Libertex succeeds in one area mainly, it is the sector of education, news, research, and data. The broker maintains an informative blog on its website about forex, trading, and cryptocurrencies. There’s also an education section that contains 29 trading lessons including detailed videos. The video course is available on the company’s website and on the in-house trading platform under the ‘All Products’ tab – video course.

    Libertex Review – Platform,...

    Moreover, the broker offers a breaking financial news feed which is available on the website as well as on the Libertex in-house trading platform.

    Customer Service

    he broker provides multiple customer support channels that include support via phone, email, submit a ticket, live chat, WhatsApp, and Facebook Messenger. The broker also provides an FAQ section on its website on the following topics: banking, verification, trading conditions, trading platforms and terminals, and trading transactions.

    Final Thoughts

    Libertex is a well-known forex and CFD broker regulated by CySEC and FSC which operates in the industry since 1997. The broker has gained recognition all over the industry including 30 international awards. With zero spreads and excellent educational resources, Libertex has plenty going for it.

    Want to try Libertex for yourself? Simply click the link below to sign up today!

    Libertex: Established Broker with Zero Spreads

    Our Rating

    Trading
    • Zero spreads and low commission
    • Established and trusted broker
    • Excellent education resources
    • Low minimum deposit
    Trading
    83% of retail investor accounts lose money when trading CFDs with this provider.

    FAQs

    Can US residents trade with Libertex?

    No, US residents cannot open an online trading account with Libertex as the broker is not regulated by the SEC (U.S. Securities and Exchange Commission) or CFTC (Commodity Futures Trading Commission).

    Is Libertex regulated?

    Libertex is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 164/12 and by the Financial Sector Conduct with the following FSP Number: 47381 in South Africa.

    How can I contact Libertex in order to open a trading account?

    In order to open a new trading account, you can contact Libertex via the following contact methods: Email address - [email protected] Phone - +357 22 025 100

    What is the maximum leverage ratio offered by Libertex?

    Libertex offers a leverage ratio of 1:30 for retail clients, in compliance with CySEC regulations in order to minimize risk, and 1:600 for professional clients.

    Can I trade cryptocurrencies with Libertex

    Yes. As a matter of fact, Libertex offers a wide range of 40 cryptocurrency pairs including exotic crypto pairs. Those include bitcoin, ethereum, bitcoin cash, litecoin, Ripple, DASH, Monero, IOTA, EOS, NEO, and more.

    See Our Full Range Of Forex Brokers Resources – Brokers A-Z

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    All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
    Tom Chen

    Tom is an experienced financial analyst and a former derivatives day trader specialising in futures, commodities, forex and cryptocurrency. He has a B.A. in Economics and Management and his work has been published on a range of publications, including Yahoo Finance, FXEmpire and NASDAQ.com.

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